Many people would prefer that their estates avoid the probate process.  While the probate process is not overly costly in most states, it is generally considered a hassle to those who have experienced it.  The following is a discussion on several alternatives for avoiding probate. » Continue reading “Alternatives for Avoiding Probate”

Let’s face it, seniors today are healthier, more active and are likely to have longer lives.  So what are the financial implications for retirees who will likely live well into their 80s and possibly their 90s?

We believe that from a financial standpoint, retirees need to make financial planning decisions that reflect the high probability that they will live longer.

» Continue reading “Planning for Retirement and Increasing Life Expectancies”

As we help clients make long-term financial decisions, we also like to consider the probability of various negative outcomes.  While we consider ourselves generally optimistic people, we believe that it is both important and helpful to also think about “worst case scenarios” – those financial uncertainties that have the potential to derail financial goals.

» Continue reading “Increasing Your Odds”

I can tell you from experience that children grow up fast!  It is very hard for me to believe that my sweet daughter, Abbey, will be starting kindergarten soon.  Five years have passed in the blink of an eye!

What’s really scary is that I have a pretty good idea of how much college will cost in the year 2023 when I write the check (to NC State of course!) to pay for her first semester.  Fortunately, my wife and I have planned ahead and I hope that you will plan ahead too.  I would suggest that you consider utilizing a 529 College Savings Plan as a component of your college savings strategy.

» Continue reading “529 College Savings Plans FAQ”

Erin Campbell is interviewed by Mitchell Lewis, host of the PBS series NC Now.  In Erin’s segment (starting at the 5:05 mark in the video), she discusses ways to prepare financially for disasters.

» Continue reading “PBS Interviews Beacon Financial Strategies’ Erin Campbell”

During retirement, is it best to take distributions from IRAs, Roth IRAs or personal brokerage or savings accounts?  The decision of “Which account?” is an important one with many factors to consider.

» Continue reading “Retirement Distribution Planning – Which Account?”

In our office, we talk quite a bit about risk.  Financial risk, and more importantly, identifying strategies to help our clients mitigate or manage those risks is a very real and important component of the financial planning process.

» Continue reading “Headline Risk”

Long term care costs are expensive and rising every year.  For many, a two or three year stay in a skilled nursing facility could cost several hundred thousand dollars and potentially wipe out a retirement nest egg.

» Continue reading “The Basics of Long Term Care Insurance”

Is there another crisis looming? We have been getting this question quite a bit recently from clients, as well as from other professionals in our network.  This is a good question. After all, many things can go wrong.

» Continue reading “Now Is the Time!”

Well, Congress finally enacted the tax reform bill that many have been anticipating for some time. In general, the new law extends the Bush-era tax cuts for two years and provides taxpayers with some certainty during this period.  While this comprehensive piece of legislation covers many aspects within the tax code, here is a summary of some of the major points.

» Continue reading “Tax Relief and Job Creation Act of 2010″